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Plastic Resins Market 2023 Analysis By Size, Share, Growth, Trends Up To 2032 | BASF SE, Saudi Basic Industries Corporation, Dow Inc., Evonik Industries AG, Sumitomo Chemical Co. Ltd
Plastic Resins Global Market Report
The Business Research Company's Plastic Resins Global Market Report 2023 identifies the rise in the demand for lightweight materials in the automotive and aviation industries is driving the plastic resins market. The lightweight materials have a track record of high performance, achieving the same desired effect as aluminum and steel in terms of safety and durability, while also reducing weight and carbon dioxide emissions in automobiles and airplanes. Plastic resins are a composite blend that is rotationally molded into robust and malleable items that may approximate the appearance of stone and metal materials for a fraction of the cost and weight and are used to manufacture different automotive and aviation parts such as door panels, flooring, and engine components.
The global plastic resins market size grew from $672.79 billion in 2022 to $707.76 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global plastic resins is expected to grow to $840.22 billion in 2027 at a CAGR of 4.4%.
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Major players in the plastic resins market are BASF SE, Saudi Basic Industries Corporation, Dow Inc., Evonik Industries AG, Sumitomo Chemical Co. Ltd., Arkema S.A., Celanese Corporation, Eastman Chemical Company, Chevron Phillips Chemical Co. LLC, Lotte Chemical Corporation, Covestro AG, Toray Industries Inc., Teijin Ltd., Exxon Mobil Corporation, and Mitsui and Co. Plastics Ltd.
A key trend in the Plastic Resins market includes the Recycled plastic resin are shaping the plastic resins market. Companies in the plastic resins market are focusing on developing recycled plastic resins to help their customers in manufacturing sustainable products and hence, expand their market share.
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The Plastic Resins market is segmented -
1) By Product: Crystalline, Non-Crystalline, Engineering Plastic, Super Engineering Plastic
2) By Resin Type: Polyethylene, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polycarbonate, Polystyrene, Polymethyl Methacrylate, Polybutylene Terephthalate
3) By Application: Packaging, Automotive, Construction, Electrical And Electronics, Logistics, Textiles And Clothing, Furniture And Bedding, Medical Device
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Plastic Resins market.
The Business Research Company's "Global Plastic Resins Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Plastic Resins Market Include:
1. Executive Summary
2. Plastic Resins Market Characteristics
3. Plastic Resins Market Trends And Strategies
4. Plastic Resins Market - Macro Economic Scenario
5. Plastic Resins Market Size And Growth
……
27. Plastic Resins Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Plastic Resins Market
29. Plastic Resins Market Future Outlook and Potential Analysis
30. Appendix
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